Silvant Capital Management LLC Trims Stock Position in Valero Energy Co. (NYSE:VLO)

Silvant Capital Management LLC decreased its stake in Valero Energy Co. (NYSE:VLO) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,846 shares of the oil and gas company’s stock after selling 4,686 shares during the period. Silvant Capital Management LLC’s holdings in Valero Energy were worth $4,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VLO. EdgeRock Capital LLC purchased a new position in shares of Valero Energy during the second quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in Valero Energy during the 2nd quarter worth $29,000. Summit Securities Group LLC purchased a new position in Valero Energy during the 2nd quarter worth $31,000. Pathway Financial Advisers LLC acquired a new position in Valero Energy in the first quarter valued at $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Valero Energy during the third quarter worth about $34,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

NYSE VLO opened at $128.22 on Friday. Valero Energy Co. has a 1-year low of $119.88 and a 1-year high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The business has a 50 day moving average price of $136.69 and a 200 day moving average price of $148.56. The company has a market capitalization of $41.08 billion, a P/E ratio of 11.50, a PEG ratio of 2.32 and a beta of 1.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.49 earnings per share. Sell-side analysts expect that Valero Energy Co. will post 9.32 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is 38.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank dropped their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America began coverage on Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Citigroup dropped their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.29.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.